Press release Q3 2021 Results
Agroserv Măriuța posts a turnover of 52.7 million lei, increasing by 46% in the first nine months of 2021
Bucharest, 24 November 2021 – Agroserv Măriuța (BVB: MILK), a Romanian agricultural company and owner of the Lăptaria cu Caimac brand, posts a turnover of 52.7 million lei in the first nine months of 2021, up 46% compared to the same period last year and a net profit of 3.4 million lei, a significant increase compared to the loss of 2 million lei recorded in the first nine months of 2020.
“We are happy with the results recorded in the first nine months of 2021, considering the unpredictable period we are going through. Certainly, the excellent agricultural year has helped us reach a 46% increase in turnover and a significant net profit. From the perspective of the agricultural year, it was an excellent one. We produced about 4 tons/ha for rapeseed, over 6.5 tons/ha on average for wheat, and about 10 tons/ha for corn. To these were added the revenues from the services provided. Also, the price of cereals on the stock market was above average, which led to a positive final result. Regarding Laptaria cu Caimac, we see a high potential in the online space, and we intend to increase the revenues from online sales in the next period. Online stores are a great way to diversify our customer base,” stated Adrian Cocan, CEO of Lăptăria cu Caimac.
The first nine months of 2021 were excellent for Agroserv Mariuta, as the company’s results increased on all key business lines. Regarding the sales in stores, during the analyzed period, the company registered revenues of 28.4 million lei, determined by the increase of the volumes sold, the rise in the number of products in stores, and the larger number of independent stores selling Lăptăria cu Caimac products.
In terms of the livestock activity, which includes sales of raw milk and revenues from the sale of animals, the generated turnover amounted to 8 million lei. Revenues from farming production were 16.4 million lei, a significant increase compared to last year’s same period, primarily due to an excellent agricultural year and harvest.
The works for the temperature-controlled production hall and warehouse, an investment financed by the bond issue from November 2020, are nearing completion. The physical state of the construction is 98%. At this moment, doors are installed, and small touches are made. 50% of the equipment was already delivered. The company expects the cold storage to be fully operational by December 1st, followed by the completion of the technological assembly in the production section. The ongoing COVID-19 pandemic and the global crisis of raw materials and components have led to inevitable delays in the delivery of production equipment that depends on electronic control panels. Therefore, the butter production line will be delivered in January 2022.
Agroserv Mariuta shares floated on the AeRO market on May 21st, 2021 under the MILK ticker. The company currently has a market capitalization of approximately 118 million lei. Starting with October 11, 2021, the company is included in the BET-AeRO index, the first index for the AeRO market developed by the Bucharest Stock Exchange.
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About Agroserv Mariuta
Agroserv Mariuta is a company listed on the AeRO market of the Bucharest Stock Exchange (MILK symbol), which carries out a mixed agricultural activity of crop farming combined with livestock farming. Starting with 2018, the company has a new business line, namely the processing of cow’s milk, respectively obtaining dairy products – whole milk packaged in glass, matured cheeses, acidophilic products. With a desire to expand the family business and identify a market need to find quality dairy products, safe, nutritious, and without additives on the store shelves, the company launched the brand “Laptaria cu Caimac”. For more than three years, Laptaria cu Caimac has been delivering natural milk on the market, without unnecessary additives and powdered milk, and with special care to process milk. These unique products challenge the industry and increase quality standards. Also, Agroserv Mariuta is among the very few companies in Romania with 100% traceability for the raw material, up to the level of treatment of the plants that make up the food.
